Getting Money to Start a New Business

 by: John Mussi

Starting a new business can be an exciting venture -- unfortunately, it can also be quite expensive as well. In order to get the money that you need to get your business off of the ground, you might be considering a loan from a bank or other lender; you should keep in mind that there are some other alternatives for funding that might serve you well in addition to traditional loans.

Of course, before you can do much work toward getting the money that you want you'll need a business proposal and you'll have to be willing to consider a variety of different funding options.

Drafting a business proposal

The first step toward getting the money that you need for your new business is creating a business proposal. This can require a lot of research and estimations, as it should include sections on how much money you'll need, how much money you hope to make, what competition you'll face, what equipment and training your employees will need, and other statistics that may vary depending upon what sort of business you're planning on opening. It's best to do additional research on business proposals, so that you know that you haven't left out anything that's vitally important.

Business grants

Once you've created your business proposal, you should begin looking for business grants that you might qualify for and begin submitting applications. Business grants work much like a business loan, with the exception that the money issued with a grant does not have to be repaid. Any business grants that you can receive will be a great boon to your business, as it means additional funds as well as the knowledge that someone believes that your business will succeed.

Business loans
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Getting Money to Start a New Business
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About The Author John Mussi is the founder of Direct Online Loans who help homeowners find the best available loans via the www.directonlineloans.co.uk website.

Additional Resources

category - Small Business Grants

Small Business Administration's Recovery Capital Loans
The Recovery Capital Loans Program provides financial assistance to small business with less than 500 employees to obtain a deferred payment loan from the agency, in order to meet existing debt payments, thereby giving the business the opportunity to refocus their business strategy.

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Small Business Administration's Portable Assistance Program
The Small Business Administration has established the Portable Assistance Program wherein they seek to provide grants to Small Business Development Lead Centers that provide services to small businesses in an effort to increase the success of small business establishments and their viability in certain communities where economic hardship is apparent and is attributable to the impact of a major disaster.

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Small Business Administration's Loan Guarantees Program
The Small Business Administration has established the Loan Guarantees Program wherein they aim to be able to provide guaranteed loans to small business establishments which are not capable of acquiring financing from a private credit marketplace but greatly manifests the ability to repay funds in a timely manner.

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Small Business Innovation Research Phase IIB Bridge Awards
In line with this mission, the NIH has recently constituted the Small Business Innovation Research Phase IIB Bridge Awards to Accelerate the Development of Cancer Therapeutics, Imaging Technologies, Interventional Devices, Diagnostics, and Prognostics Toward Commercialization Program.

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